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Silver Rate Today in Bhilai
silver rate in Bhilai

10gm:
₹700.00
0(0.00%)
1kg:
₹70,000.00
0(0.00%)

Last updated on: 8th Mar 2023

Bhilai, also known as the “Steel City of Central India", is a significant industrial hub in Chhattisgarh's central region. This industrial city, famous for having one of India's major steel plants, is around 25 kilometres from Raipur. The Bhilai Steel Plant is well recognised for being the nation's sole supplier of rails to the Indian Railways. 

The setting up of many ancillary industries and trading ventures here has also increased the demand for silver in Bhilai. This rise in demand has also led many people in the city to view silver as an investment asset. This has also made silver very liquid. This, plus the fact that silver jewellery and coins are always popular in the city, make silver a very lucrative investment in Bhilai. Let's look at what else is driving the demand for silver. 

Silver Rate Comparison

Comparison between Gold and Silver in Bhilai

The following constitutes the main differences between gold and silver in this city: -

  • Volatility: Since the gold market is larger, it experiences less volatility during bull and bear markets. This makes investments in gold a little less risky than investments in silver. 
  • Affordability: Silver is 80 times less expensive per ounce than gold (at current prices). Compared to gold, silver is more economical, has comparable advantages, and gives you the ability to meet short-term financial needs. It is also a less expensive choice for giving gifts.
  • Storage: Compared to silver, gold is easier to keep, takes up less room, and doesn't tarnish. Meanwhile, silver needs up to 128 times more storage space than gold.
  • Industry: Only 12% of the demand is made up of gold, and its influence on pricing is minimal. Silver, on the other hand, makes up approximately 56% of the overall supply. The majority of industrial silver is, however, not recoverable.
  • Stockpiles: Gold is frequently purchased and held by central banks. Silver, on the flip side, is only held in extremely modest quantities by governments.

Silver rates as per grams in Bhilai

GramYesterdayToday
1 gram
₹70.00
0 (0.00%)
₹70.00
0 (0.00%)
8 grams
₹560.00
0 (0.00%)
₹560.00
0 (0.00%)
10 grams
₹700.00
0 (0.00%)
₹700.00
0 (0.00%)
100 grams
₹7,000.00
0 (0.00%)
₹7,000.00
0 (0.00%)
1kg
₹70,000.00
0 (0.00%)
₹70,000.00
0 (0.00%)

Silver v/s other investment options 

Traditional assets like stocks and bonds have long been replaced by silver and other precious metals. For several reasons, it is popular among investors, although many view it as a store of wealth in unstable times.

  • Stock Market: Since the global economic climate has been calm for some time, the stock market has also been stable and performing well. The economy does, however, go through cycles. There is a good likelihood that the stock market may soon experience negative effects resulting in a rise in the prices of silver, which may ultimately be to your advantage.
  • Disturbance in Global Politics: The global geopolitical climate is currently going through various challenges. Investing your money in silver during these times can be a smart choice. Even if the stock market or real estate markets experience a fall, having silver as an asset will guarantee that your money will be secure.
  • Rise of Silver: Silver prices are up compared to the previous two years, according to the most current trend in the market. It might be a good moment to buy silver now that the price of silver is rising.

Historical Silver Rate in Bhilai for Last 10 Days

10 grams
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Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)
Day Silver
09 Mar 2023
₹700.00
0 (0.00%)
08 Mar 2023
₹700.00
0 (0.00%)
07 Mar 2023
₹700.00
0 (0.00%)
06 Mar 2023
₹700.00
0 (0.00%)
05 Mar 2023
₹700.00
0 (0.00%)
04 Mar 2023
₹700.00
0 (0.00%)
03 Mar 2023
₹700.00
-2 (0.00%)
02 Mar 2023
₹702.00
+12 (0.00%)
01 Mar 2023
₹690.00
0 (0.00%)
28 Feb 2023
₹690.00
-19 (0.00%)

Paper Silver vs Physical Silver

Silver can be purchased in the form of bars or jewellery. The alternative choice is to invest in silver derivative contracts, silver futures, silver mining equities, and silver mining ETFs.

But what exactly is an ETF for silver? Similar to gold ETFs, silver ETFs are commodity-based exchange-traded funds (ETFs) provided by mutual fund companies. Of the ETFs' total assets, 95% are invested in silver or derivatives related to silver. When you buy real silver, you must pay for storage locker rental and theft insurance premiums.

Contrarily, since Silver ETFs are traded on stock exchanges, purchasing Silver ETFs is done online. Silver ETFs give you liquidity that investing in actual silver cannot because you can always sell it on the stock exchange.

Interesting facts about Silver

India is the leading silver consumer in the world and can use up to one-third of all silver produced globally in a single year. It seems like metal has an exciting future, and the high demand due to our technology consumption, industrialization and low physical inventory makes it incredibly important to our lives.

Also, did you know that "born with a silver spoon" refers to wealthy families who would feed their young children with silver spoons because of the metal's natural antibacterial characteristics? 

Another fascinating fact to discover is that the Olympic gold medal is made of silver and only coated with gold.

Demand for Silver in Bhilai

Silver is a precious metal with numerous useful chemical and physical properties. That's why it has found various industrial applications, including the electrification of vehicles, 5G mobile phone technology, and, more crucially, the commitment of various governments to invest in "green" infrastructure. Its electrical, thermal, and reflectance qualities are higher than any other metal. 

Further, it is extensively employed in industrial applications (55%) due to its physical characteristics, followed by jewellery (19%) and coins/bars (12%). Bhilai is one of the most industrialised regions and has seen significant growth in the demand and consumption of silver over the last few years.

In and around Bhilai, a large number of chemical and fertiliser manufacturing facilities have also been established over the past few decades, and significant growth can be anticipated in the forthcoming years owing to advanced industrial uses discovered for metal.  

FAQs of Silver Rate in Bhilai

How is the Purity of Silver Evaluated in Bhilai?

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There are a few indicators that you should check to ensure that you are purchasing a pure type of silver. Here are a few of these indicators that will guarantee the quality of the metal you are purchasing.

One of the top marks for silver purity is the BIS Mark. This is the BIS, or Bureau of Indian Standards, official logo.

Grade/Fineness of Purity: the purity rating for fine silver is either 999.9, 999.5, or merely 999. Jewellery, artefacts, and silver alloys are 970, 925, 900, 835, and 800.

Another method to confirm the purity of the metal is to look for the jeweller's identification mark. 

Can I Buy Silver Without Taxes?

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What Distinguishes Sterling Silver from Pure Silver?

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What is Rhodium or Nickel Plating on Silver?

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Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the prevailing rates are subject to change with market value and are provided on an as-is basis. Wint Wealth has no commercial interest or gain in or from the actions resulting from the information displayed on this page. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of the data contained on this website.